| Imagine the public outcry if 27 million | | | | theft protection in the form of the |
| Americans discovered that their most private | | | | consumer-directed credit freeze authority. |
| medical and financial health records had been | | | | Why? It's all about business-as-usual where |
| stolen! No way, impossible. Yet, a single | | | | the credit bureaus only make money when |
| laptop computer containing all of these | | | | they're analyzing or selling a credit history |
| veterans and active-duty servicemen and women | | | | record to a firm considering offering you a |
| actually "went missing".The internet, PCs and | | | | credit card. Financial institutions create a |
| laptops, cell phones and blackberries, online | | | | business model that's all about issuing |
| and offline data storage, and a raft of | | | | more-and-more credit cards, and then earning |
| information technologies are leaving you | | | | transaction fees and interest income. |
| vulnerable to identity theft and credit card | | | | Meaning what? Neither of these groups has an |
| fraud. Bad guys know about the credit | | | | "economic incentive" to reduce credit card |
| bureaus, the banks and other institutions, | | | | fraud, even where they're "holding the bag" |
| and even the state governments which actively | | | | for liability payments of nearly $50 billion |
| "sell" the data records to the direct | | | | in 2006.The US Congress in summer 2006 is |
| marketing industry. Where's your "privacy" | | | | considering stripping-down State "credit |
| in this unregulated market? You guessed it. | | | | freeze" laws, making them junior to Federal |
| It's gone once a bent individual turns his or | | | | protections which, incredibly, offer a credit |
| her attention to your file.Result? Several | | | | freeze-like protection only for those |
| million Americans each year eventually | | | | consumers who can produce a police report |
| discover that they've become victims of | | | | verifying that they're victims of identity |
| identity theft, to the tune of up to $20 | | | | theft and credit fraud. In other words and |
| billion or more in fraudulent purchases. The | | | | in a testament to the upper limits in |
| bad guys easily get away, but you're left | | | | legislative absurdity, you can't preemptively |
| holding the bag. Even though you didn't make | | | | obtain identity theft protections unless you |
| the purchases, and even though you're not | | | | can prove that you've been burgled.Credit |
| legally responsible to reimburse the firms | | | | History Repair - Your Direct Liabilities And |
| who sold gear to the fraudsters...guess what? | | | | Expected Costs. You'll be lucky to get out |
| You get a bad credit record!Credit History | | | | of the credit repair process without |
| Repair - First Move Close All Accounts.Time | | | | investing something like 600 hours of your |
| is of the essence. As soon as you suspect, | | | | personal time, and it may take you years in |
| or know, that you've become a victim of | | | | order to obtain an honest and true credit |
| identity theft, you must contact 100% of your | | | | history repair. You'll be contacting major |
| creditors and advise them to suspend credit | | | | credit bureaus like Equifax, Experian or |
| and not authorize any purchases to your | | | | TransUnion which maintain credit records on |
| account. Who do you call? Department | | | | over 90% of Americans.Needing Professional |
| stores, banks, petrol, travel, finance | | | | Assistance.You'll likely need a lawyer and an |
| institutions...any firm that issues credit | | | | accountant, and you'll pay them professional |
| cards to you."Victims" Trigger The Credit | | | | fees to help you sort out your credit repair. |
| Repair Process.Remember, the credit card | | | | Also, you need the investigative fire power |
| firms don't know and don't care about your | | | | necessary to canvas the entire credit market |
| identity theft problem until it rolls up to | | | | in order to identify whether other fraudulent |
| their front door.Over 85% of commercial | | | | credit cards have been issued, using your |
| identity theft is reported by victims rather | | | | bank accounts, passwords, mother's maiden |
| than the credit card issuing firms. Most | | | | name, credit card numbers, address, birth |
| often victims are unsuspecting. Suddenly | | | | date, or any other personal information. |
| huge bills come in, reflecting unknown | | | | Remarkably, nearly 20% of "reported identity |
| purchases, or you make a run-of-the-mill | | | | theft" cases turn out to be situations where |
| credit application and you're turned down | | | | a family member who has access and detailed |
| inexplicably. Only now does "the penny | | | | knowledge turns bad and rips-off the identity |
| drop" and you realize that personal data has | | | | of another family member.What You May Pay In |
| been stolen and some bad guy is out there | | | | "Losses".In many states identity theft |
| impersonating you while racking up thousands | | | | victims are limited to the first $50.00 of |
| of dollar of fraudulent expenses.Credit | | | | transaction losses, leaving the industry's |
| Repair - Second Move "Credit Freeze".In 20 | | | | remaining $50 billion "fraud tab" to be paid |
| States you can order a "credit freeze" which | | | | for by businesses.Credit history repair is |
| will lock-down both the credit bureaus as | | | | critical following identity theft. Learn |
| well as any credit-issuing firm from doing | | | | what to do, how to contact the major credit |
| anything unless and until they receive your | | | | bureaus, and the practical avoidance |
| permission. In other words, no new credit | | | | strategies for not becoming a victim of |
| cards can be issued by anyone until you | | | | credit card fraud or identity theft.Identity |
| authorize it.Who Opposes Credit Freeze | | | | Theft Prevention Tips: Report Repair After |
| Consumer Anti Fraud Defenses?Remarkably, the | | | | Identity Theft: Robin Derry is publisher for |
| credit bureaus, financial institutions, the | | | | a specialty information site that gives |
| identity theft fraudsters and even the US | | | | solutions to health, household, sport, travel |
| Congress oppose the States' grant of identity | | | | and legal needs. |